TD Securities Downgrades Baytex Energy (TSE:BTE) to Hold

Baytex Energy (TSE:BTE) (NYSE:BTE) was downgraded by investment analysts at TD Securities from a “buy” rating to a “hold” rating in a report released on Friday,BayStreet.CA reports. They currently have a C$5.00 price target on the stock. TD Securities’ price objective suggests a potential upside of 8.46% from the stock’s previous close.

A number of other brokerages have also issued reports on BTE. National Bankshares dropped their price target on shares of Baytex Energy from C$4.75 to C$4.50 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Capital One Financial raised shares of Baytex Energy to a “hold” rating in a report on Monday, October 27th. Raymond James Financial raised shares of Baytex Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 13th. Scotiabank raised shares of Baytex Energy from a “hold” rating to an “outperform” rating and increased their price target for the stock from C$4.00 to C$5.25 in a research report on Thursday, November 13th. Finally, BMO Capital Markets upgraded Baytex Energy from a “hold” rating to an “outperform” rating and lifted their price target for the stock from C$3.00 to C$6.00 in a research note on Thursday, November 13th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$4.75.

Baytex Energy Stock Down 1.7%

Shares of TSE BTE traded down C$0.08 during trading on Friday, reaching C$4.61. 3,539,532 shares of the stock were exchanged, compared to its average volume of 7,319,557. The company has a market capitalization of C$3.54 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 0.12 and a beta of 0.92. The business’s 50-day moving average price is C$4.37 and its 200 day moving average price is C$3.50. The company has a quick ratio of 0.77, a current ratio of 0.69 and a debt-to-equity ratio of 57.38. Baytex Energy has a twelve month low of C$1.91 and a twelve month high of C$4.81.

Baytex Energy (TSE:BTE) (NYSE:BTE) last released its quarterly earnings results on Thursday, October 30th. The company reported C$0.04 EPS for the quarter. Baytex Energy had a negative return on equity of 8.96% and a negative net margin of 10.45%.The business had revenue of C$746.42 million for the quarter. As a group, equities analysts forecast that Baytex Energy will post 0.3703367 EPS for the current fiscal year.

Insiders Place Their Bets

In other Baytex Energy news, Director Mark Bly purchased 20,000 shares of the business’s stock in a transaction on Wednesday, December 24th. The stock was bought at an average cost of C$4.50 per share, with a total value of C$90,000.00. Following the acquisition, the director owned 575,638 shares of the company’s stock, valued at C$2,590,371. The trade was a 3.60% increase in their ownership of the stock. Also, insider Chad Lundberg acquired 11,500 shares of the stock in a transaction dated Tuesday, December 30th. The stock was acquired at an average cost of C$4.36 per share, for a total transaction of C$50,140.00. Following the purchase, the insider directly owned 532,801 shares in the company, valued at approximately C$2,323,012.36. The trade was a 2.21% increase in their ownership of the stock. 0.83% of the stock is currently owned by company insiders.

Baytex Energy Company Profile

Baytex Energy Corp is an oil and gas company. Geographically, the group operates in Canada and the United States. The company derives a majority of revenue from Canada. Its Canada segment includes the exploration, development, and production of crude oil and natural gas in Western Canada.